SurruS

Surrus is a decentralized system for searching and returning stolen vehicles that acts as a car insurance too.

How it works:

SurruS is a decentralized system for searching and returning stolen cars. In case of failure to find a car, the company returns 100% of the car’s market value, so it acts as an insurance company too. This kind of insurance would cost users three to five times cheaper than buying an insurance policy. Using blockchain simplifies the application process and reduces wait time.

If a car is stolen, the owner notifies SurruS and the police. The device inside the vehicle would send a signal if it gets within a search module radius, identifying its location. It doesn’t send out signal constantly, so it’s hard to notice and jammers won’t stop it.

Then the area is searched by a search unit that has quadcopters. All SurruS users can participate in the search and get rewards for finding the stolen vehicle. Once the car is found, the police are called in, and it is returned to its rightful owner. If it isn’t, SurruS would repay the owner for his loss.

Innovation:

Even though SurruS doesn’t come up with a groundbreaking discovery nor does it start a new market niche, it has what it takes to be called pretty innovative. SurruS drives the industry forward, blending anti-theft services with car insurance, and introduces an anti-theft device of their own design that cannot be stopped by jammers.

Innovation score: Medium

Token value:

Apart from the basic promise of the token’s rise in price due to the popularity of the service, SurruS has another thing to attract investors with.

The company will introduce a limited amount of SRS tokens in December 2018. SRS holders will be receiving monthly payouts, tied to the company’s revenue. The priority for purchase of SRS will be given to SURR holders, the price is 65,000 SURR for one SRS.

Token value score: High

White paper:

The white paper SurruS presents shows a brief market overview complete with the problems the industry faces and and the company’s solutions for them. It also elaborates the concept and presents technical details that are key to the system’s functioning. The only drawback is that it doesn’t show the business model.

White paper score: Medium

Roadmap:

The research on the project has been done since 2007, the deals with manufacturers are struck, everything is ready for production. Given the ICO is successful, the company will start sales in Russia in November 2018, covering Russia, Great Britain, Italy and France by February 2019.

Roadmap score: Medium

Business model:

The biggest drawback of the SurruS presentation is the lack of a business plan, especially so for a company that plans to distribute some of their income to special token holders.

It is a shame, considering that there is money to be made in this niche and the whole thing seems to have high potential for profitability. It goes without saying that the company will charge for the purchase of their anti-theft device, but it is unclear whether they are charging any monthly fees.

Their route to market strategy is more promising, as SurruS plans to arrange partnerships with some key B2B partners like car manufacturers, insurance companies and taxi services to market their product.

Business model score: Medium

Team:

The company’s CEO has a staggering 24 years of experience in entrepreneurship; he has put two unprofitable plants back to the point of profitability in less than two years. Their software lead is a winner of AngelHack hackathon and their blockchain developer has over 15 successful projects in his portfolio.

Another presentation failure is the lack of advisory board in the white paper and on the official site. This is why we cannot give SurruS the highest mark in this section despite its otherwise outstanding team.

Team score: Medium

Competitors:

Despite SurruS being a combination of anti-theft software and an insurance company, it doesn’t mean it will not compete against either. The competition in these industries is vast and there are a lot of already established players. The good thing is, SurruS really does have an edge against them because of the quality of their product.

Competitors score: High

Overall thoughts:

SurruS drives the insurance and the anti-theft device markets further. It has a great team. The benefits their token offers are a bit more interesting than the average.